Is Consumer Business the Only Thing Holding Banks’ Profits Afloat?
It’s earning reports season, and the reports being made by big banks are providing useful insight on the general direction of the country’s economy. Despite growth in profits, bigwigs JP Morgan Chase and Wells Fargo have fallen short of their quarterly net interest income projections. Consumer banking has remained strong, while investment banking and equity trading have turned in lower revenues than expected. Learn what the future may have in store, especially as these results get attributed to a tough rate environment.
New 1040 Form By IRS Has Been Customized to Serve Older Taxpayers
The IRS recently released a draft of a new version of the 1040 tax form for specific use by taxpayers who are 65 years and above. While it bears similarities to the regular 1040 EZ in terms of instructions, attachments, and schedules — it has been designed to be easier to read with bigger fonts. Also, shading in boxes has been removed to increase legibility and improve contrast. Discover more about what makes this new proposed form better for retirement-age taxpayers.
Mondelez International, Bank of America and Two Others Expected to Make Dividend Increases
After raising its dividends by 18% a year ago, Mondelez International is set to increase its dividends yet again this year with a 15% quarterly increase from 26 cents a share to 30 cents. The Oreo cookies maker is not the only one expected to raise its dividends as Bank of America, Wells Fargo, and drug distributor McKesson are all set to increase their dividends too. Find out the new dividend heights each of these firms are aiming for.
Dollar Stores Have Enjoyed Huge Growth Over the Last Decade, But Lawmakers Might Change That
Major dollar stores in the U.S. may have to shelve plans to open 24,000 new locations — as local lawmakers move to curb their growth. A recent law approved by the city council in Birmingham, Alabama prohibited the opening of new stores within a mile of existing ones. This is just an example of what many other towns and cities are working towards. These stores claim to offer affordable products to communities, but opponents say America’s poor population is getting exposed to unhealthy foods. Read on to find out what Dollar General and others are up against and how they impact the wallet (and food choices) of many consumers.