Sydney BoyoDETROIT — General Motors' plans to diversify its business through trendy industries such as ridesharing and other "mobility" ventures or startups have largely fallen flat since the automaker started investing in such growth areas in 2016.Cruise, its majority-owned autonomous vehicle subsidiary, is increasingly looking like it might be next.The...
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BlackRock and China-led AIIB among backers of $800 million Asia-focused infrastructure fund
Wind turbine blades rotate in the tidal flat in Yancheng city, Jiangsu province, China, November 18, 2023.Nurphoto | Nurphoto | Getty ImagesTop global asset managers including BlackRock are among investors in an Asia-focused infrastructure private equity fund that raised $800 million, underscoring growing interest in the asset class amid market...
Retail sales rose 0.3% in November vs. expectations for a decline
Consumers showed unexpected strength in November, giving a solid start to the holiday season as inflation showed signs of continued easing.Retail sales rose 0.3% in November, stronger than the 0.2% decline in October and better than the Dow Jones estimate for a decrease of 0.1%, the Commerce Department reported Thursday....
Inflation slowed to a 3.1% annual rate in November
Prices across a broad range of goods and services edged higher in November but were mostly in line with expectations, further easing pressure on the Federal Reserve.The consumer price index, a closely watched inflation gauge, increased 0.1% in November, and was up 3.1% from a year ago, the Labor Department...
Here’s how advisors are using Roth conversions to reduce taxes for inherited IRAs
Only 41% of investors with more than $1 million have a plan for passing on their wealth to future generations, UBS says.kate_sept2004 via Getty ImagesAs retirees consider their legacy, a popular income tax-saving strategy has become more common, experts say.The strategy, known as a Roth individual retirement account conversion, transfers...