Category: Business News

What is an Irrevocable Trust?

A trust is an estate planning tool that allows a person to control their assets during their lifetime and make provisions for incapacity and death. Many trusts are revocable, however, irrevocable trusts can be an incredibly useful way to plan for your future.

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One thing you should know about irrevocable trusts is that, unlike revocable or living trusts, irrevocable trusts cannot be changed or amended. They are set in

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Overstock.com buys rights to Bed Bath & Beyond

NEW YORK –

Bed & Bath & Beyond will live on, online at least, after Overstock.com acquired the bankrupt retail chain’s intellectual property assets for $21.5 million.

The online retailer Overstock.com is dumping its name online and will become Bed & Bath & Beyond, which declared bankruptcy earlier this year. Overstock.com’s CEO Jonathan Johnson told The Associated Press in a phone interview on Thursday that the company is considering changing its corporate name but won’t make any decisions until after it digests the assets.

The switcheroo to a very familiar brand was cheered on Wall Street. Shares of Overstock.com Inc.,

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The Zacks Analyst Blog Highlights PGT Innovations , Owens Corning, Watsco, James Hardie Industries and Arcosa

For Immediate Release

Chicago, IL – July 6, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: PGT Innovations, Inc. PGTI, Owens Corning OC, Watsco, Inc. WSO, James Hardie Industries plc JHX and Arcosa, Inc. ACA.

Here are highlights from Wednesday’s Analyst Blog:

Five Building Product Stocks Up More than 40% Year to Date

The Zacks Construction sector has been displaying strength since the beginning of 2023, despite housing slowdown

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Apple became the first company to have a market cap topping $3 trillion

Apple’s market cap topped $3 trillion on Friday, as shares rose about 1% to a new high and passed the $190.73 price required to hit the milestone, according to CNBC’s most recent share count.

Apple was the first company to hit a $3 trillion market cap during intraday trading in January 2022, but it failed to close at that level. It has another shot to do that on Friday.

It shows investors remain bullish on the stock and Apple’s portfolio of products and services, despite the company’s warning in May that its current quarter revenue is expected to fall about

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Fake online reviews: US proposes bans

WASHINGTON –

US federal regulators are looking to crack down on fake reviews and other deceptive internet practices.

The Federal Trade Commission proposed a new rule Friday that would ban paying for reviews, suppressing honest reviews, selling fake social media engagement and more. Businesses would also be prohibited from running company-controlled websites that claim to be independent, and other deceptive practices like “review hijacking,” which makes reviews for one product appear like they were written for significantly different ones.

If the proposed rule is approved, following a 60-day public comment period, violators could face hefty penalties.

“Our proposed rule on

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Nigel Farage bank account shut for falling below wealth limit

Nigel Farage

Nigel Farage

Nigel Farage fell below the financial threshold required to hold an account at Coutts, the prestigious private bank for the wealthy, the BBC has been told.

It is understood that he was afterward offered a standard account at NatWest which owns Coutts.

Mr Farage says he believes his account is being shut down for political reasons and he has been turned down by nine other lenders after trying elsewhere.

But people familiar with Coutts’ move said it was a “commercial” decision.

“The criteria for holding a Coutts account are clear from the bank’s website,” they told the BBC.

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Canadians seeking financial advice from banks left unsatisfied

Roughly two-thirds of retail bank customers ‘financially unhealthy,’ the study finds

Published June 30, 2023 • 4 minute read

Pedestrians walk near a Royal Bank of Canada building in the financial district of Toronto.
Pedestrians walk near a Royal Bank of Canada building in the financial district of Toronto. Photo by Brent Lewin/Bloomberg files

As high inflation, rising interest rates and market volatility take a toll on their finances, Canadians are seeking advice from their financial institutions, but some banks are not delivering this effectively, according to a new study.

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United CEO apologizes for flying private

New York –

United CEO Scott Kirby is apologizing to customers and his own employees after taking a private jet during a week when his airline was canceling thousands of flights.

The airline confirmed Kirby flew from Teterboro Airport in New Jersey to Denver, Colorado, on Wednesday, and that the company did not pay for his flight. Teterboro is about 17 miles from Newark, New Jersey, where one of United’s largest hubs is located and which was the center of the airline’s meltdown this week.

In a statement, Kirby said he regretted that his actions distracted the professionalism of United

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