To the extent that traditional pension plans aren’t all but a thing of the past in the private sector, they soon may be. Among companies that still have active defined-benefit plans on their books, 89% are planning to offload their pensions to insurance companies using a strategy called pension risk...
While Cetera Holdings is trying to make the 3,100 financial advisors at Avantax Inc. comfortable as Cetera works to close its acquisition of the tax-focused firm by the end of the year, it looks as if very few will get a New Year’s gift in the form of “transition...
House Republicans may have shot themselves in the foot this week with the historic ouster of Speaker Kevin McCarthy but that doesn’t mean they’ll be taking their aim off the SEC. McCarthy was deposed as speaker Tuesday after eight far-right Republicans and all Democrats voted to remove the California Republican...
Clorox on Wednesday warned that its sales and profit took big hit during the quarter ended Sept. 30, largely due to the after affects of a cyberattack that significantly affected operations.The bleach and cleaning products maker said it expects net sales to decrease 23% to 28%. Clorox also estimates...
A Popeyes restaurant is seen in Washington, D.C.Eric Baradat | AFP | Getty ImagesPopeyes has overtaken KFC as the No. 2 chicken chain in the U.S., a decade after Chick-fil-A first unseated KFC from the top spot.Chicken chains' battle for stomachs — and dollars — has become more aggressive...
Cannabis producer Tilray Brands on Wednesday reported a jump in revenue as it diversifies its portfolio and moves deeper into the beer industry.The company reported $177 million in net revenue, up 15% year-over-year, for its fiscal first-quarter. Its cannabis division brought in $70 million in net revenue, reflecting a 20%...
Passive target-date funds remain a popular choice for many defined-contribution plans, often driven by the generally lower fees associated with these funds. While intuitively it may feel as if “lower cost” naturally translates into a more prudent option for plan participants, the reality is this may not always be...
Rep. Jason Smith, R-Mo., speaks during a House Oversight and Accountability Committee impeachment inquiry hearing on Sept. 28, 2023.Jonathan Ernst | ReutersHouse Republicans are pressing the IRS for answers after the agency paused processing new claims for a pandemic-era small business tax break.Lawmakers voiced "continued concerns" about the employee retention...
DETROIT – General Motors secured a new $6 billion line of credit as the automaker braces for additional strikes by the United Auto Workers union."The facility that we announced today is a $6 billion line of credit that I think is prudent in light of some of the messages...