Author: Money Mechanics

(Investing) – WASHINGTON – Detentions of Panama-flagged vessels by China that followed a Panamanian court ruling raise serious concerns about efforts to undermine rule of law in the Latin American country, U.S. Secretary of State Marco Rubio said on Thursday. The U.S. Federal Maritime Commission said last week that it was closely monitoring a surge in detentions of Panama-flagged vessels in China that appears tied to a Panama court ruling against Hong Kong-based port operator . “China’s recent actions against Panama-flagged vessels raise serious concerns about the use of economic tools to undermine the rule of law in Panama, a sovereign nation…

In today’s unpredictable economic climate, finding a safe yet profitable place for your hard-earned money is more critical than ever. As such, two smart, but overlooked savings solutions are money market accounts and no-penalty CDs.Both accounts share similarities as you earn an APY currently outpacing inflation. And you’ll have access to your money when you need it. But both also serve different purposes and come with tradeoffs.The question comes down to preferences: Do you want access to your money immediately, or do you prefer to lock in a fixed rate and let it ride for a bit? I’ll break down…

While the IRS doesn’t “real-time spy” on your daily spending, a simple smartwatch habit could get you in hot water during a tax audit. That’s because those who use fitness apps to track business miles might not be aware of the in-app limitations.For instance, many free versions of distance-tracking apps cap the number of trips you can take, forcing you to record them later. But if you aren’t logging your miles correctly at the time of the trip, the IRS can disallow your entire deduction under the contemporaneous record rule.And at the 2026 IRS business mileage rate of 72.5 cents…

Stay informed with free updatesSimply sign up to the Accountancy myFT Digest — delivered directly to your inbox.The UK accounting watchdog has dropped its investigation into KPMG over its auditing of Ladbrokes owner Entain without taking any enforcement action against the Big Four firm.The Financial Reporting Council opened its investigation into KPMG’s audit of Entain’s 2022 accounts in November 2024 and announced the probe two months later.The investigation came more than a year after Entain was ordered to pay a £615mn fine in 2023 as part of a deferred prosecution agreement following allegations of bribery at the former Turkish unit…

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $57.3 billion in February, up $2.7 billion from $54.7 billion in January, revised.U.S. International Trade in Goods and Services DeficitDeficit:$57.3 Billion+4.9%°Exports:$314.8 Billion+4.2%°Imports:$372.1 Billion+4.3%°Next release: Tuesday, May 5, 2026(°) Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changesSource: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, April 2, 2026Exports, Imports, and Balance (exhibit 1)February exports were $314.8 billion, $12.6 billion more than January exports. February imports were…

Empty-nest baby boomers own many more 3-bedroom-plus U.S. homes than younger families raising children, underscoring a mismatch between who has space and who needs it.  Millennials with kids are facing both affordability and inventory challenges–but at the same time, baby boomers have little financial incentive to move–and there’s limited inventory of reasonably priced, small, one-story homes for them to go to.  More large homes could hit the market as affordability improves, the lock-in effect eases and it becomes easier for sellers to test the market via the new Redfin-Compass partnership.  Empty-nest baby boomers own more large homes than millennials with…

Startups are often quick to say they value diversity but are slow to implement hiring practices that reflect that. It is the path of least resistance for a growth-stage company to hire from the familiar Silicon Valley pipelines, but if a founder wants a diverse team, that value has to be put into practice from the very first hire.  Leah Solivan, the founder of Taskrabbit and founder and managing director of Precedent.VC, joined Isabelle Johannessen on Build Mode to discuss how she thought about hiring while leading Taskrabbit. As the company scaled from being bootstrapped on Solivan’s personal credit cards…

(Image credit: Getty Images)Every business owner eventually leaves their business. It’s preferable to leave it on your own terms, confident that the business can continue to thrive after you’ve stepped away.The key to getting there is to start planning your exit long before the day you anticipate handing over the keys, which gives you time to map out your ideal business exit.Talk succession before it’s an emergencyStart your business exit planning three to five years before your exit, which gives you options you won’t have if your exit is a panicked scramble. From just $107.88 $24.99 for Kiplinger Personal Finance…

(Image credit: Getty Images)Spring is in the air. The weather is warming up, March Madness basketball is concluding, and baseball has begun. The markets, meanwhile, aren’t sharing in the seasonal optimism.Recent global events have had cascading effects on energy markets, global central banks, interest rates and equities around the world.The result was a first quarter where few corners of the investable universe were spared and where the traditional hedges many investors rely on largely failed to provide shelter. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up…

(Image credit: Getty Images)One of the biggest challenges facing younger generations today is preparing for retirement in an increasingly uncertain world. Encouraging Americans to begin saving and investing early is one of the most effective ways to build long-term financial security.One proposal that has recently generated discussion is the concept of the “Trump account.” The idea behind the account is simple but powerful: Provide young Americans with an investment account early in life so they can benefit from decades of compounded growth before retirement.Encouraging Americans to begin saving early is a strong step in the right direction. However, there may…