Austria’s President, Alexander Van der Bellen, has asked the leader of the conservative People’s Party (OVP) and incumbent Chancellor Karl Nehammer to form a coalition government – despite the fact that the far-right Freedom Party won the general election last month. The anti-immigrant, Russia-friendly Freedom Party came top in the election in September with almost … Read more
Billionaire hedge fund manager Paul Tudor Jones is raising alarms about the U.S. government’s current fiscal deficit and the increased spending promised by both presidential candidates, saying the bond market may force the government’s hand after the election in addressing it. “We are going to be broke really quickly unless we get serious about dealing … Read more
Xavier Lorenzo | Moment | Getty Images The IRS has unveiled higher capital gains tax brackets for 2025. In its announcement Tuesday, the agency boosted the taxable income limits for the long-term capital gains brackets, which apply to assets owned for more than one year. The IRS also increased figures for dozens of other … Read more
Reuters Tear gas and live rounds have been fired in protests during election unrest Election observers working for the European Union (EU) say some voting results have been doctored in Mozambique, as unrest in the country continues to grow. Thousands of people joined opposition protests on Monday that were called by independent presidential candidate Venâncio … Read more
Construction workers came across an “exceptionally preserved” marble statue during a job in the city of Varna in Bulgaria. The Varna Regional Museum of History announced the find in a Facebook post on Oct. 15, 2024, which included photos of the discovery. The statue, slightly taller than a human, according to the post, was found … Read more
The Internal Revenue Service has announced a higher estate and gift tax exemption for 2025. The “basic exclusion amount” rises to $13.99 million per person in 2025, up from $13.61 million in 2024, the agency said Tuesday. The exemptions apply to tax-free transfers during life and at death. The IRS also boosted figures for dozens … Read more
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Qatar Airways Group CEO Badr Al Meer (center) and Qatar Tourism Chairman Saad bin Ali Al Kharji (left) speak with Elon Musk (right) via Starlink on board the flight. Qatar Airways Qatar Airways launched Tuesday its inaugural Boeing 777 flight equipped with Elon Musk’s Starlink internet, paving the way for a new era of in-flight … Read more
Much of the world has managed to successfully lower inflation and engineer an economic soft landing, avoiding recession, but faces rising geopolitical risks and weaker long-term growth prospects, according to the International Monetary Fund. Global headline inflation will fall to 3.5% on an annual basis by the end of 2025, from an average 5.8% in … Read more
File: Mike Jeffries, then Abercrombie & Fitch CEO in 2005. Michael Loccisano | FilmMagic | Getty Images Former Abercrombie & Fitch CEO Mike Jeffries was arrested in Florida and faces sex trafficking-related charges, a spokesman for federal prosecutors in Brooklyn, New York, told CNBC on Tuesday. Two of Jeffries’ associates, Matthew Smith of West Palm … Read more