New York is moving ahead with a pied-à-terre property tax in its budget. Existing taxes from around the world's major cities show the limits of the policy.
This week's market focus is on the US economy, with major banks like JPMorgan and Bank of America releasing Q2 earnings. The June consumer price index report is also due Tuesday, coinciding with JPMorgan's conference call. Other key reports include the producer price index and earnings from J.B. Hunt and Netflix.
A nearly complete Tyrannosaurus Rex fossil, named Gus, is set for auction at Sotheby's with a valuation of $30 million, sparking debate on whether scientifically important specimens should be reserved for museums or rewarded to discoverers.
Despite market volatility driven by geopolitical tensions and concerns over AI demand sustainability, top Wall Street analysts are recommending Amazon (AMZN), Marvell Technology (MRVL), and Advanced Micro Devices (AMD). Analysts cite strengths in cloud, AI infrastructure, and semiconductor demand for their optimistic outlooks.
A poll shows 69% of Americans want AI firms to transfer 50% of their stock to a public sovereign wealth fund, amid tech layoffs and corporate profit growth. Senator Bernie Sanders has proposed similar legislation.
Aldi's new Manhattan store, hidden in a luxury apartment complex basement, offers steep discounts on groceries, attracting bargain hunters like Mary Porter. This expansion targets dense urban areas, challenging traditional grocers with its efficient, private-label model, though analysts see Walmart as an insurmountable competitor.
A nearly complete Tyrannosaurus Rex specimen named Gus is expected to sell for over $30 million at Sotheby's, sparking debate about whether scientifically important fossils should be reserved for museums or sold to private collectors.
