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This fall, Visa Inc. Chief Executive Alfred Kelly received a troubling, anonymous email: Jim McCarthy, one of his most senior and high-profile executives, had been involved in romantic relationships with women at the card giant, according to people familiar with the email’s content. The email, which didn’t include the company’s human-resources department, proved a test…
URUMQI, China—This city on China’s Central Asia frontier may be one of the most closely surveilled places on earth. Security checkpoints with identification scanners guard the train station and roads in and out of town. Facial scanners track comings and goings at hotels, shopping malls and banks. Police use hand-held devices to search smartphones for…
ST. THOMAS, N.D.—Near the height of his farming empire, Ron McMartin Jr. had a decision to make. His lease on 5,000 acres was coming up for renewal, and the retired farmer who owned it wanted an additional $125 per acre. That would add $625,000 to the annual budget of McM Inc., the agricultural colossus that…
The alleged theft of exchange-traded funds worth $1.4 billion has raised an unusual question for the industry: Who owns an ETF anyway? The biggest of the disputed ETFs is a fund that invests in cybersecurity stocks. Best known by its ticker HACK, the fund was launched days before the 2014 breach of Sony Pictures Entertainment,…
The generation now entering the workforce is sober, industrious and driven by money. They are also socially awkward and timid about taking the reins.
Consumers have become addicted to credit cards with generous rewards programs. Retailers are trying to cut them off. Large merchants including Amazon.com Inc., Target Corp. and Home Depot Inc. are pushing for the right to reject some rewards credit cards, which typically carry higher fees for merchants. They are likely to opt out of a…
For millions of Americans, the most important tax-planning tip between now and the end of the year is to check your charitable contributions. They are on Schedule A, Line 19 of your tax return. Do these donations, plus your mortgage interest, allowable medical expenses, and $10,000 of state and local taxes, normally add up to…
Henrique Dubugras, a 21-year-old Stanford freshman and entrepreneur, had just secured Silicon Valley funding for a virtual-reality company he co-founded when he ran into a problem: He realized he didn’t know enough about virtual reality to pull it off. “We had absolutely no idea what we were doing,” he said. It was early 2017, and…
WAUSAU, Wis.—The mall is failing in the most middle-class city in America, and it isn’t because its 39,000 residents don’t shop. Shoppers here spend about 30% more than state and national averages, according to the Census Bureau. Sales-tax receipts have grown 20% in the county since 2011, and city officials say there is not one…
Switching your traditional individual retirement account to a Roth IRA is often a terrific tax strategy—except when it’s a terrible one. Congress first allowed all owners of traditional IRAs to make full or partial conversions to Roth IRAs in 2010. Since then, savers have done more than one million conversions and switched more than $75…