Industry

Financial Advisor IQ – California Billionaire Tax Proposal Has Ultrawealthy Move Offices, Threaten Leaving

Industry, Taxes

Editor’s Note: The threat of asset seizure alone will have knock-on effects, even if the law does not pass. If it does pass, making it retroactive is a dirty trick designed to tax only those who you have caught unawares. ~jrs

California’s wealthiest residents are threatening to leave the state and take their businesses with them in light of a proposed ballot initiative to get billionaires to cough up more tax, according to news reports.

A ballot initiative proposed by the Service Employees International Union-United Healthcare Workers West would impose a one-time 5% tax levy on those with fortunes of more than $1 billion who lived in the state as of Jan. 1, The Wall Street Journal wrote.

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The Quiet Expansion of the USA’s Bitcoin Balance Sheet

Financial Planning, Industry, Markets

It’s not every day the U.S. government quietly adds $15 billion in Bitcoin to its balance sheet – without authorizing a single purchase.

Last week, the Department of Justice announced the largest crypto forfeiture in U.S. history: roughly 127,000 BTC linked to an international fraud network led by Cambodian billionaire Chen Zhi. The Bitcoin was recovered from unhosted wallets and is now in federal custody.

At first glance, it’s a simple enforcement story. But look a little closer, and it’s something more consequential – a real-world example of how Washington’s Strategic Bitcoin Reserve (SBR) may begin to take shape in practice.

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intermodal containers on dock

How Trump’s Tariff Revenue Helped the Government Make Bank In June

Industry, Markets

KEY TAKEAWAYS

The federal government collected $26.6 billion in tariff revenue in June, rising again as President Donald Trump’s tariff policy began to take hold.

Spending decreased by $187 billion in June, resulting in a budget surplus of about $27 billion for the month.

Read the entire article: How Trump’s Tariff Revenue Helped the Government Make Bank In June

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Why Stocks Rallied in Q2 Despite Fear and Economic Uncertainty  | Zacks Investment Management Blog

Industry, Markets

How Stocks Managed to Rally Through the Noise in the Second Quarter

In the three months ending June 30th, U.S. and global stocks did what they’ve done many times before: they climbed a wall of worry.

If we start this story in April, we know that the market’s uneasiness was triggered in response to the shock of tariffs and accompanying fears of a global trade war/economic slowdown. In short order, the S&P 500 plunged into correction territory and dragged investor sentiment down with it. Headlines were awash with predictions of prolonged economic pain, and many investors became extremely skeptical.

Read the entire article: Why Stocks Rallied in Q2 Despite Fear and Economic Uncertainty  | Zacks Investment Management Blog

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focus photography of person counting dollar banknotes

Consumer confidence rebounds in May as Trump pauses China tariffs

Industry, Markets

Consumer confidence rebounded in May after five straight months of declines as President Trump dialed back his aggressive stance on tariffs against China.

The latest index reading from the Conference Board was 98 in May, well above the 85.7 seen in April and the 87.1 economists had expected. The expectations index surged off its 13-year low seen in April, reaching 72.8 in May, far above the 55.4 in the month prior. This marked the largest month-over-month increase for that metric since May 2009.

Read the entire article: Consumer confidence rebounds in May as Trump pauses China tariffs

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This Tiny Robot Is Part Bee, Part Crane Fly—and It Finally Has Solid Legs

Industry, Lifestyle

Imagine tiny robotic bees buzzing around fields of wildflowers, helping real bees carry out their crucial pollinating duties decades in the future.

It’s a vision that Harvard’s Microrobotics Laboratory has been working on for years. The barrier? Until recently, the only landing

Read the entire article: This Tiny Robot Is Part Bee, Part Crane Fly—and It Finally Has Solid Legs

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How carmakers are responding to Trump’s auto tariffs, so far – Sherwood News

Industry

President Trump has repeatedly stated that his goal is to increase US manufacturing, though only a few automakers have made commitments to boost their US businesses so far (and some that have did it before the tariffs were officially announced last month).

Many others have taken to raising prices, halting US shipments, or temporarily lowering their margins by absorbing tariffs.

Read the entire article: How carmakers are responding to Trump’s auto tariffs, so far – Sherwood News

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person in blue red and white plaid dress shirt holding bread

How Much More You Spend to Work From an Office

Industry, Lifestyle

If your work situation has shifted, and you now have to put in regular in-person appearances in an office, then you might’ve noticed that you’re spending a bit more than you did when you were working from home. If that’s the case — and those grab-and-go lunches and afternoon caffeine fixes have started to add up — you’re definitely not alone.

Owl Labs, a company that builds video-conferencing systems for hybrid workspaces, has released its annual “State of Hybrid Work” report,

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four white plastic cups on brown wooden table

Chipotle Launches a Robot to Make Its Burrito Bowls

Industry

Chipotle’s social media accounts can be on the nose sometimes, with memes about sweater- and spooky- seasons, respectively; with rhetorical graphics about how a burrito would wear its pants; and with an oddly terrifying corncob-human hybrid called “Corn Lad.”

But earlier this week, @Chipotle went serious on Instagram, providing a preview of Hyphen, its “collaborative robot” (or cobot), which it said was currently being tested to make burrito bowls and salads beside its fully human coworkers.

Read the entire article: Chipotle Launches a Robot to Make Its Burrito Bowls

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A Ketchup Shortage Is Affecting Restaurants Across the Country | PEOPLE.com

Industry, Lifestyle

Individual ketchup packets are in high demand — and suppliers can’t seem to keep up with it.

Since the start of the COVID-19 pandemic, the price for individual ketchup packets has increased by 13%, the Wall Street Journal reports. Restaurants have been trying to stock up on the packets since the CDC recommended to “avoid using or sharing items that are reusable such as menus, condiments and any other food containers.” That, combined with many eateries reverting to take-out only orders where packets would be included, has resulted in a shortage at chains like Long John’s Silver and Texas Roadhouse, according to WSJ.

Read the entire article: A Ketchup Shortage Is Affecting Restaurants Across the Country | PEOPLE.com

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‘Rent-a-person who does nothing’ in Tokyo receives endless requests, gratitude – The Mainichi

Industry, Lifestyle, Markets, Retirement

Beats a second career of working as a Walmart greeter, right? -Jeff

TOKYO — A 37-year-old Tokyo man who says he rents himself out to other people “to do nothing” has been inundated with gratitude from Twitter users, indicating people are happy with his new form of support.

“I’m glad I was able to take a walk with someone while keeping a comfortable distance, where we didn’t have to talk but could if we wanted to,” one user wrote. Another reflected, “I had been slack about visiting the hospital, but I went because he came with me.”

Read the entire article: ‘Rent-a-person who does nothing’ in Tokyo receives endless requests, gratitude – The Mainichi

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Gavin Newsom’s New Stay-at-Home Order a ‘Deathblow’ to California’s Small Businesses – Reason.com

Industry, Lifestyle

Most of California will be going back into March-style lockdowns following the issuance of a new public health order from Gov. Gavin Newsom (D) that closes large swaths of the economy in regions hardest hit by COVID-19 and places tougher restrictions on businesses allowed to remain open.

Critics say Newsom’s order is full of arbitrary restrictions that will damage small business owners while doing little to stem the spread of the pandemic.

Read the entire article: Gavin Newsom’s New Stay-at-Home Order a ‘Deathblow’ to California’s Small Businesses – Reason.com

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DeepMind AI cracks 50-year-old problem of protein folding | DeepMind | The Guardian

Health & Fitness, Industry, Lifestyle

Having risen to fame on its superhuman performance at playing games, the artificial intelligence group DeepMind has cracked a serious scientific problem that has stumped researchers for half a century.

With its latest AI program, AlphaFold, the company, and research laboratory showed it can predict how proteins fold into 3D shapes, a fiendishly complex process that is fundamental to understanding the biological machinery of life.

Read the entire article: DeepMind AI cracks 50-year-old problem of protein folding | DeepMind | The Guardian

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Americans Are Starting a Staggering Number of Businesses During the COVID-19 Pandemic – Reason.com

Industry, Lifestyle

In a year that will be remembered for a deadly pandemic that shut down parts of the economy and cost millions of people their jobs, here’s one silver lining.

Read the entire article: Americans Are Starting a Staggering Number of Businesses During the COVID-19 Pandemic – Reason.com

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New Kim: Racing pigeon from Belgium sold for record €1.6m – BBC News

Industry, Lifestyle, Markets

A racing pigeon from Belgium has set a new record after being sold for €1.6m ($1.9m, £1.4m).

New Kim, a two-year-old female, was initially put up for auction for just €200, but was bought by a bidder from China on Sunday for the record amount.

Kurt Van de Wouwer, whose family bred and owned the pigeon, said they were “in shock” at the news, according to Reuters news agency.

Read the entire article: New Kim: Racing pigeon from Belgium sold for record €1.6m – BBC News

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