Voters in California have rejected a tax on the state’s wealthiest residents, CBS News projects, following a campaign that has split traditional allies and shattered spending records for a tax-related measure in California. Proposition 40 would have levied a one-time 5% tax on California residents with a net worth of $1 billion, excluding real estate…
Nvidia’s stock price dropped in early trading on Monday amid questions about CEO Jensen Huang’s future at the chipmaker, following the board of directors’ investigation into allegations that China targeted him in an intelligence operation. The investigation is raising concerns about Huang’s role at the company, which he co-founded and helped build into the world’s second-most…
The midterm elections could reshape Congress as lawmakers grapple with persistent inflation, high energy prices and rising fiscal debt. For investors, by contrast, the political outcome could deliver a boost. Data from financial firm Edward Jones shows that the S&P 500 stock index rose an average of 1.7% in the month after the last 14 midterm races,…
The U.S. economy has remained resilient over the past two years despite a slowing labor market, trade wars and resurgent inflation, but economists are now warning that a convergence of new and lingering threats could test its strength. The “worry list is growing more worrisome,” Ed Yardeni, president and chief investment strategist of Yardeni Research,…
WNBA Commissioner Cathy Engelbert is retiring at the end of the year, ending a seven-plus-year tenure that included a lucrative collective bargaining agreement that resulted in the league’s first set of million-dollar player salaries. “Cathy has presided over the WNBA through the most significant period of growth in the league’s 30-year history,” NBA Commissioner Adam…
