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Alphabet is making three big changes in how it reports earnings on Monday

“When Alphabet posts its first quarter results on Monday, investors should be prepared to see three changes to how it reports its earnings” writes unknown author for cnbc.com. The changes, which Alphabet announced earlier this month, will likely lead to a decrease in revenue in Alphabet’s “Other Bets” category and more volatility for its “other income and expenses,” while also providing a new way to measure the success of its ads on third-party websites. Source: cnbc.com Share This:

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Morgan Stanley profit jumps 40 percent on trading boost

“FILE PHOTO: The Morgan Stanley logo is displayed at the post where it is traded on the floor of the NYSE in New York Thomson Reuters (Reuters) – Morgan Stanley reported a 40 percent jump in quarterly profit on Wednesday, helped by lower income tax rate and a rise in trading revenue due to increased market volatility” reports businessinsider.com. The bank’s net income applicable to common shareholders rose to $2.58 billion in the first quarter ended March 31 from $1.84 billion a year earlier.Analysts on average were expecting a profit…

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Morgan Stanley is gaining ground after a record-setting quarter

“Shares of Morgan Stanley popped more than 2.5% Wednesday morning after the bank posted a big earnings beat” writes Graham Rapier for businessinsider.com. Here are the key numbers (emphasis added): “It shouldn’t surprise anyone as it’s now become the norm: With Morgan Stanley, there is always something good under the bank’s earnings tree,” Axel Pierron, managing director at Opimas, a capital markets consultancy, said in an email.”Morgan Stanley’s earnings have again beaten market expectations.”.  Source: businessinsider.com Share This:

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The IRS just pushed back the deadline to file taxes by one day after its website crashed on Tax Day

“According to the IRS, taxpayers could still file their returns through third-party filers like H&R Block and TurboTax during the outage but the IRS was having trouble processing the submission from those groups” writes Aol Staff for aol.com. “This is the busiest tax day of the year, and the IRS apologizes for the inconvenience this system issue caused for taxpayers,” Acting IRS Commissioner David Kautter said in a statement. NOW WATCH: How a series of deadly Russian apartment bombings in 1999 led to Putin’s rise to power SEE ALSO: The IRS…

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Brokers News 

Interactive Brokers’ earnings rise in Q1 2018 on the back of higher commissions

“Net interest income increased 56% as average customer credit and margin loan balances and benchmark interest rates increased from the year-ago quarter” reports financefeeds.com. Excluding other comprehensive income, Interactive Brokers reported diluted earnings per share of $0.63 for the quarter, compared to diluted earnings per share of $0.34 for the same period in 2017.Income before income taxes was $340 million in the first quarter of 2018, compared to income before income taxes of $213 million for the same period in 2017. Source: financefeeds.com Share This:

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TurboTax answers most commonly asked tax questions

“To help make the tax filing process as easy as possible, TurboTax has answered the most commonly asked tax questions for this tax season” writes Turbotax Blog Editor for aol.com. The tax deadline is almost here, and with the tax deadline comes a wide range of tax questions from filers.The Earned Income Tax Credit is a tax credit for low to middle income wage earners that has lifted millions of people out of poverty, however many people still miss it.Claiming dependents can give you a tax deduction worth up to…

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J.B. Hunt beats revenue views, profit matches

“REVENUE: Operating revenue increased 20% to $1.95 billion, more than the $1.89 billion analysts expected” writes Cara Lombardo for marketwatch.com. OTHER SEGMENTS: J.B. Hunt logged double-digit revenue increases in its Dedicated Contract Services and Integrated Capacity Solutions segments.Load volumes increased 6% and revenue per load increased 8% in that segment. Source: marketwatch.com Share This:

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Google futurist and director of engineering: Basic income will spread worldwide by the 2030s

“It’s no coincidence that this timeline also coincides with when Kurzweil, Google’s chief futurist and director of engineering at Google Research, thinks AI will pass the Turing Test – when it becomes impossible to discern machine intelligence from human intelligence” reports businessinsider.com. At the 2018 TED Conference, futurist Ray Kurzweil made a bold prediction about the future of “free” money: “In the early 2030s, we’ll have universal basic income in the developed world, and worldwide by the end of the 2030s.Basic income experiments, in which people are given a regular…

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How to use TurboTax to file your taxes for free in 2018

“If you’re really not ready to file, TurboTax offers a free tax calculator that will estimate your tax refund for this year and next year in less than five minutes” writes Ine Cain for businessinsider.com. Americans now have until April 17 to file their 2017 taxes.If your income was less than $66,000 in 2017, many online tax services offer the option to file for your federal taxes — and sometimes state taxes — for free.Of course, I didn’t actually file my taxes this time around. Source: businessinsider.com Share This:

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How global wealth distribution has changed since 1800

“The following interactive chart, from Gapminder.org, shows the distribution of daily inflation adjusted income for countries around the world since 1800” writes Taps Coogan for thesoundingline.com. According to the chart, in the early 1800s, the vast majority of the world lived in what would be categorized as extreme poverty today.Today, the majority of the world’s population has been raised out of extreme poverty (though many remain extremely poor) and the global wealth distribution is the most geographically balanced that it has been since the early 1800s.The populations of Europe and…

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