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Jose Luis Pelaez Inc | Digitalvision | Getty Images Why having a credit card can be beneficial Having a credit card — and using it responsibly — is a good way to start building strong credit, said Ted Rossman, senior industry analyst at CreditCards.com. Establishing good credit is “essential” for qualifying for loans such as a mortgage or auto loan, and for other things such as buying a cell phone, renting a car or getting …

Check out the companies making headlines in midday trading. Starbucks — Starbucks shares lost nearly 2.5% after a union representing workers said strikes are slated to begin Friday in response to claims the coffee shop chain is not allowing Pride decorations at cafes. More than 150 stores, and about 3,500 workers, plan to join the strike occurring over the next week, the union said. CarMax — The used-car retailer popped 10% after beating the consensus …

The artificial intelligence craze has consumed Wall Street in 2023. The madness found its roots in November of last year, when OpenAI launched the now infamous large-language model (LLM) ChatGPT. The tool touts some impressive capabilities, and spurred an AI race with rival Google announcing it’s own chat box – Bard AI – only a few months later. But the enthusiasm went even further. Investors started flocking to stocks that could provide ample AI exposure, …

How to calculate your capital gains tax bracket With higher standard deductions and income thresholds for capital gains, it’s more likely you’ll fall into the 0% bracket in 2023, Lucas said. For 2023, you may qualify for the 0% long-term capital gains rate with taxable income of $44,625 or less for single filers and $89,250 or less for married couples filing jointly. The rates use “taxable income,” which is calculated by subtracting the greater of …

Goldman Sachs is likely to take a large write-down for its 2021 acquisition of fintech lender GreenSky after seeking to unload the business, CNBC has learned. Bids for the installment loan business are coming in well below what Goldman had hoped for, according to people with knowledge of the sale process. Under CEO David Solomon, Goldman bought Atlanta-based GreenSky for $2.24 billion to help accelerate its push into consumer finance. But just 18 months after …

Check out the companies making headlines in premarket trading. Starbucks — The coffee shop chain slid 1.1% after a union representing workers said some stores will strike beginning Friday following claims the company has not allowed Pride month decor in its cafes. The union said workers at more than 150 stores have agreed to join the strikes taking place over the next week, with more working on authorizations. CarMax — The used car retailer gained …

The development, from Lithuanian infrastructure firm Tech Zity, is inspired by British renovation projects like the Battersea Power Station and Tate Modern art gallery. Tech Zity Lithuania is building a huge tech campus — Europe’s largest — in the capital of Vilnius, as it looks to become the new tech capital of the Baltics. Built by Tech Zity, an infrastructure project in Lithuania, the campus is a 100 million euro ($109.6 million) development that will …

Artificial intelligence algorithms are increasingly being used in financial services — but they come with some serious risks around discrimination. Sadik Demiroz | Photodisc | Getty Images AMSTERDAM — Artificial intelligence has a racial bias problem. From biometric identification systems that disproportionately misidentify the faces of Black people and minorities, to applications of voice recognition software that fail to distinguish voices with distinct regional accents, AI has a lot to work on when it comes …

Federal Reserve Chairman Jerome Powell prepares to testify during the Senate Banking, Housing and Urban Affairs Committee hearing titled “The Semiannual Monetary Policy Report to the Congress,” in Dirksen Building on Thursday, June 22, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images New rules expected to require that banks keep more capital almost certainly won’t apply to smaller institutions, Federal Reserve Chair Jerome Powell said Thursday. Addressing concerns over proposals to tighten the …

Jonathan Raa | Nurphoto | Getty Images Bitcoin has rallied amid news about possible spot bitcoin exchange-traded funds and other big names entering the digital currency space — and financial experts have tips for investors who want a piece of the action. The price of bitcoin topped $30,000 on Wednesday as traders grew bullish about spot bitcoin ETF applications from companies such as BlackRock, WisdomTree and Valkyrie. Bitcoin has surged by more than 80% in …