FACT FOCUS: No, taxpayers will not receive new stimulus checks this summer
Rumors spread online Friday that the U.S. government will soon be issuing stimulus checks to taxpayers in certain income brackets.
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Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Global stocks paused after a record-breaking run, with a sharp selloff in heavyweight technology shares dragging markets lower and futures indicating further declines. (2) President Donald Trump has bought hundreds of bonds since he returned to office, including those sold by US companies affected by the sweeping changes to federal policies he's championed. (3) A package of security guarantees for Ukraine will take shape as soon as this week as leaders seize on President Donald Trump's backing for a plan that involves sending European troops as part of a potential peace deal. (4) Thousands of firefighters worked overnight to contain dozens of deadly wildfires burning across Spain and Portugal as heat and gusty winds spread blazes through dry brush, forests and crops. (5) When a company abruptly ditches its CEO, the costs of the shakeup can quickly add up. Bloomberg News consulted with compensation consultants, academics, corporate lawyers, executive-search advisors and public-relations experts on the true cost of firing your CEO. (6) Overtourism and climate change have created a dangerous feedback loop that endangers Southern Europe's tourism industry.
Yahoo
40 minutes ago
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How unspent pension pots could rack up inheritance tax bills
Unspent pension pots could prove problematic for those calculating their potential inheritance tax bill, with new changes taking effect from April 2027. New calculations by Quilter show that a working-age single homeowner in England hoping to pass on an average-priced home (£290,395) and a pension pot of £415,000 would pass on an inheritance tax (IHT) bill of £82,158 from 2027 following changes announced in the government's budget — even if they die before reaching pension age. Until now, unspent pensions were typically passed on tax-free if the saver died before age 75, and especially if they passed away before they could access them. HMRC confirmed that from April 2027, pension savings will count towards a person's estate for IHT purposes regardless of age at death, unless covered by existing exemptions. This means that cohabiting families with young children, who do not benefit from the spousal exemption or a transferable nil-rate band, will be far more exposed, according to Quilter. 'Charging inheritance tax on a pension someone could not access and will never be able to use due to passing away before the minimum pension age is optically terrible for the government," said Jon Greer, head of retirement policy at Quilter. Read more: How to make pension pots tax-efficient "It is even more unjust for cohabiting families who have no spousal relief or ability to transfer tax allowances. A grieving family with young children and an average priced home could face six-figure IHT bills at the most distressing time." In many cohabiting households the property is jointly owned (joint tenants), meaning only half its value is included in the estate. Even then, a typical family in England would still face an IHT bill of £24,079, purely because of the pension inclusion. Where the property is solely owned by the deceased, the bill is more than three times higher. For example, in London, sole ownership of an average-priced home (£565,637) plus a £415,000 pension creates an IHT bill of £192,254 in 2027. If the home is jointly owned, that falls to £129,127 – still a severe hit for a grieving family without the protections available to married couples. Across Wales, Scotland and Northern Ireland, where lower house prices meant there was previously no liability for families with similar pensions, bills in joint-ownership cases will still be an average of £23,891, £21,392 and £20,007 respectively. These liabilities will grow if house prices inflate before the rules take effect, the research in to access your portfolio
CNET
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Verizon's Simple Mobile and Total Wireless Plans Expand International Features
Travel patterns are changing, with more people in the US venturing outside the country and needing to stay connected. To accommodate this surge, Verizon is boosting the international options in its prepaid Simple Mobile and Total Wireless phone brands starting Aug. 28. Most phone plans include options to call and text people in Canada and Mexico, along with some roaming options for US travelers. Depending on the plan, those options are extended to many other countries around the globe. But you often end up paying for a more expensive plan than you need in order to get the travel benefits. Now, the Simple Mobile and Total Wireless brands are expanding their international options and increasing data allotments so you can travel using the plan you carry every day without the stress of finding local coverage. See also: Make sure you have a good phone for traveling. Simple Mobile changes The Simple Mobile prepaid plans include an allotment of high-speed data before downshifting to slower unlimited data. Be sure to check the details for specific countries on the site. Here's how they break down: The $25 Unlimited plan includes 15GB of high-speed data (up from 3GB) and unlimited calling to more than 100 countries. The $30 Unlimited plan includes 20GB of high-speed data (up from 5GB) and unlimited calling to more than 125 countries (up from 100 countries). The $40 Unlimited plan includes 30GB of high-speed data (up from 15GB) and unlimited calling to more than 125 countries (up from 100 countries). The $50 Unlimited World plan, formerly named the Truly Unlimited plan, includes unlimited high-speed data and unlimited calling to more than 200 countries (a doubling of the number of countries from before). The $60 Unlimited World Plus plan, formerly the Truly Unlimited Plus plan, includes unlimited access to Verizon's fastest network, 5G Ultra Wideband (where available) and unlimited high-speed data. It also doubles the number of countries with unlimited calling to over 200, and offers international roaming in more than 140 countries. Total Wireless Plans The top two Total Wireless plans, Total 5G Unlimited ($50 a month) and Total 5G Unlimited Plus ($60 a month), feature unlimited high-speed data, including 5G Ultra Wideband speeds. As of Aug. 28, roaming coverage for those plans doubles to more than 30 countries and international calling to 180 countries. The Total Base 5G Unlimited plan stays the same with unlimited high-speed data (but not 5G Ultra Wideband), international calling to more than 85 countries and texting to over 200 destinations and roaming in Canada and Mexico.
