Articles by Aimee Picchi

Stock Market Jun 13, 2022

Plunging stocks, recession fears: Here's what to do — and not do — with your 401(k)
Aimee Picchi

Stocks are in a bear market, inflation is at a 40-year high and economists are warning about a possible recession on the horizon. "Riding out market downturns is a good rule of thumb," Amy Richardson, a certified financial planner with Schwab Intelligent Portfolios Premium, told CBS MoneyWatch. Limi . . .

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Tesla Jun 10, 2022

Tesla plans a 3-for-1 stock split to make shares "more accessible"
Aimee Picchi

Tesla on Friday said it is planning a 3-for-1 stock split, partly to make its shares "more accessible" to retail investors. The company announced the stock split in a securities filing on Friday. Stock splits don't change the value of a company. Yet companies that engage in stock splits often outper . . .

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Inflation Jun 10, 2022

Inflation surged 8.6% over the last year — fastest since 1981
Aimee Picchi

U.S. braces for possible spike in inflation and recessionU.S. braces for possible spike in inflationU.S. braces for possible spike in inflationInflation accelerated across the U.S. in May, jumping to 8.6% — the steepest increase since 1981, according to new government data. The jump in the Consumer . . .

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IRS Taxes Jun 09, 2022

The IRS is sending millions of tax payment letters this month. Don't ignore them.
Aimee Picchi

The IRS this month will send millions of letters to taxpayers whom it believes underpaid the tax agency. The IRS issues roughly 9 million of these letters annually, Steber said. This year, the letter is unusual given that agency has stopped sending many types of notices and letters due to the pandem . . .

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Lawsuit Jun 09, 2022

A woman got an STD in a car. Now Geico may have to pay her $5.2 million.
Aimee Picchi

Geico may be on the hook for a $5.2 million legal settlement after a woman alleged she contracted a sexually transmitted disease in a car insured by the company. A Missouri court on Tuesday upheld a judgment that awarded the money to the woman, who is referred to "M.O." The woman alerted Geico that . . .

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Social Security Administration Jun 08, 2022

Social Security official: Benefits likely to rise 8% due to high inflation
Aimee Picchi

The average monthly Social Security check is about $1,658, which means beneficiaries could see an increase of $132.64 per month in early 2023, bringing the average check to about $1,790. The 69 million Americans who collect Social Security got a 5.9% COLA increase in January — the biggest jump since . . .

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Gun Control Jun 08, 2022

#Gunporn #pewpew: How gunmakers market firearms to young Americans
Aimee Picchi

Take the Instagram account of Daniel Defense, which markets its semi-automatic weapons to almost 600,000 followers. Among the gunmaker's favorite hashtags are #gunporn and #pewpew, with the latter referring to the sound effect of guns in television shows and cartoons. Daniel Defense and other gun ma . . .

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Gas Prices Jun 07, 2022

Gas in these states now tops $5 a gallon. The rest of the U.S. could soon follow.
Aimee Picchi

Gas prices have soared in the past week, jumping 28 cents in just seven days and lifting the national average on Wednesday to a record $4.95 per gallon, according to AAA. In 16 states, the typical gas price has already topped $5 per gallon, and experts say the rest of the nation could soon reach tha . . .

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Gas Prices Jun 07, 2022

Gas in these 13 states is now above $5 a gallon. The nation could soon follow.
Aimee Picchi

Gas prices have swiftly risen in the past week, jumping 29 cents in just seven days, with the national average on Tuesday reaching $4.91 per gallon, according to AAA. In 13 states, the typical gas price has already topped $5 per gallon, and the nation could soon follow, according to experts. The mos . . .

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How one lawmaker wants to curb gun sales: A 1,000% tax on semi-automatic weapons
Aimee Picchi

The proposed bill places a 1,000% excise tax on any type of semi-automatic firearm, pushing up the price of the military-style weapon beyond the means of many potential buyers. With prices ranging from about $500 to $2,000, AR-style firearms are affordable for many consumers. An excise tax of 1,000% . . .

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