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The Producer Price Index, which measures wholesale prices, rose 0.5% in April, more than the expected increase of 0.3%. Core PPI, which excludes volatile food and energy prices, also increased by 0.5% compared to an estimated 0.2%. On a yearly basis, wholesale inflation rose over 2% in April, the biggest gain in a year. Services prices drove much of the wholesale inflation, and portfolio management costs increased sharply. Energy prices rose led by a jump in gasoline costs, while food prices declined. Hotter-than-expected inflation raises doubts about the Fed's ability to cut rates soon to achieve its 2% target.
Hotter-than-Expected Prices Raise Rate Cut Doubts as Prices Rise Over 2% in April
⏲ 0:41 👁 1.2M
You have to tip your hat to the fans of the Kentucky Derby. For 150 years now, they have shown up on the first Saturday in May wearing their Sunday best–or better.<br/><br/>Dressing up on Derby Day is a tradition that dates back to the early days of the Run for the Roses. In 1875, when Colonel Merriwether Lewis Clark Jr.—grandson of the famed American explorer—helped found the race, he was inspired by England’s Epsom Derby, which had formal dress codes for spectators, including hats. By the time the Derby was first televised in 1952, fine millinery was as ubiquitous as a fresh mint julep at Churchill Downs.<br/><br/>Today, there is no official dress code at Churchill Downs, although spectators at the 150th running of the Kentucky Derby hardly need reminding that they are as much on parade as the Thoroughbreds in the paddock. Clark’s original fashion policy is just fine with the 150,000 who will attend the first jewel of the Triple Crown. Even fans who wouldn’t know a furlong from a fetlock, understand that Derby Day requires the widest brims, the boldest colors and the most outrageous equestrian clichés.<br/><br/>Read the full story:<br/>https://www.forbes.com/sites/msolomon/2023/05/06/best-hats-2023-kentucky-derby/<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Hats Off To 150 Years Of Kentucky Derby Fashion | Forbes
⏲ 3:26 👁 2.2M
Former President Trump endorses Gov. Jim Justice (R-WV) ahead of the state's Republican primary election.<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com
JUST IN: Trump Endorses Governor Jim Justice For West Virginia's Republican Primary Election
⏲ 1:10 👁 1.2M
At a campaign rally in Wildwood, New Jersey last weekend, former President Trump spoke about climate and energy policies. <br/><br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com
'We're Going To Terminate The Green New Scam': Trump Bashes Biden's Climate Proposals
⏲ 5:53 👁 1.4M
The House Judiciary Committee held a field hearing on Friday in Arizona to discuss the border. <br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com
BREAKING: Jim Jordan Chairs House Judiciary Committee Field Hearing On The 'Border Border Crisis'
⏲ 1:23:6 👁 1.3M
The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.
IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed
⏲ 1:29 👁 975K
Clune Park - Abandoned housing estate in Port Glasgow<br/><br/>The area was once a thriving community of shipyard workers in the 1920s Inverclyde but has fallen into a desperate state.<br/><br/>Inverclyde council have plans for a 31m transformation of the derelict Clune Park estate in Port Glasgow but many of the flats are are privately owned.<br/><br/>The local authority has been battling for over a decade to gain control of privately-owned flats on the eyesore estate, so that it can send in the bulldozers.<br/><br/>Over the years vandals and arsonists have targeted the estate, leaving many homes beyond repair.<br/><br/>The preferred option for the site's regeneration, would include the construction of 135 new homes in a mixture of flats, cottage flats and houses.<br/><br/>Of the 400+ flats it is estimated that only 6 are inhabited.
Clune Park - Abandoned housing estate in Port Glasgow
⏲ 17:2 👁 41.4M
During a rally on Monday, Robert F. Kennedy Jr. spoke about the lack of trust in government, institutions and the press. <br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com
‘Don’t You Want Everything To Change?’: RFK Jr. Rails Against Status Quo Under Trump & Biden
⏲ 4:44 👁 905K
BirminghamWorld pays a visit to one of Birmingham’s top-rated secondary schools where some valuable life lessons are being taught.<br/><br/> Nishkam High School, rated outstanding by Ofsted, is one of the toughest schools in Birmingham to gain admission into for pupils, and it’s not hard to see why.
We visit one of the hardest Birmingham secondary schools to get into & learned some valuable lessons
⏲ 3:34 👁 5.8M
On Monday, Secretary of State Antony Blinken traveled to Ukraine to speak with President Volodymyr Zelenskyy. <br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com
WATCH: Secretary Of State Antony Blinken Visits With President Zelenskyy In Kyiv
⏲ 5:38 👁 895K
At a House Energy Committee hearing on Wednesday, Rep. Jeff Duncan (R-SC) spoke about NPR and called for the government to defund them. <br/><br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com
'There's Nothing Objective About NPR': Jeff Duncan Calls For NPR To Be Defunded
⏲ 4:36 👁 7.8M
During remarks on the Senate floor, Senate Majority Leader Chuck Schumer (D-NY) spoke about the bipartisan border deal that was killed by Republicans after Donald Trump voiced his opposition to it.<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com
'Blame, Blame, Blame': Chuck Schumer Drops The Hammer On GOP For Killing Bipartisan Border Deal
⏲ 2:19 👁 845K
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