TopNews

According to experts, withdrawing money from retirement accounts at the wrong time could lead to serious tax consequences. There is a need of a withdrawal strategy for maximum benefits from retirement income. The standard approach to withdraw retirement funds generally follows this progression:

1. If you are older than 70½, then you should take any required minimum distributions (RMDs) from your traditional IRA or 401(k)s. Calculate RMD by using age and the value of your account.

2. People can spend from any investment portfolio that is not part of an eligible retirement plan or tax-deferred annuity. Tapping these accounts will give low total tax liability.

Rampant mislabeling of seafood and black-market fishing not only misleads consumers, but it also adds to a major loss to the global fishing industry every year. In order to stop the illegal activity, Obama administration unveiled new measures in Boston on Sunday.

At an annual meeting of the seafood industry at the Boston Convention Center, the plan was shared included in a 40-page report. The plan aims to track the fish and crustaceans from the place where they were caught to where they are sent.

Each year, thousands of car accidents occur in the US, which lead to death or severe disability in many cases. Approximately, 33,000 lives are lost every year, so it is certainly a big concern. There would be a relief, if a machine can help reduce this figure to 3,300. If only one death occurs with help of a machine, instead of loss of 10 lives due to human mistakes, wouldn't it be a better way?

Author Malcolm Gladwell talked to the venture capitalist Bill Gurley on 'catastrophically imperfect' network of cars. Gurley also talked about the biggest negative side of self-driving cars. They talked about the matter in a keynote address at the SXSW Interactive Festival on Sunday.

It seems that a deal to create the world's largest cement manufacturer is in danger, as Swiss firm Holcim said that its merger with French rival Lafarge would not go ahead.

Previously, the two firms agreed on the merger in April. Under the deal, shareholders of Lafarge were to receive one Holcim share for each Lafarge share.

Soon after taking a decision on the merger, Holcim's shares outperformed those of Lafarge. And Holcim said that it wanted to negotiate the agreed share exchange ratio and governance issues, in good faith.

As per sources, if this merger becomes a success, the companies jointly would have sales of about €32bn.

An investor group comprising of Värde Partners, KKR and Germany's Deutsche Bank have signed an agreement to acquire GE Capital's consumer lending business in Australia and New Zealand for A$8.2bn (US $6.2billion).

The GE Capital's consumer lending business provides financial services and offers a range of products that include personal loans, credit cards and interest free retail finance.

The trio said that they were attracted to a business with more than 3 million customers and a long-standing relationship with many of the major retailers in both Australia and New Zealand. According to GE, all of these products and services will remain under the Company's new ownership.

On Thursday, Ted Cruz, Senator from Texas and Charles Bolden, the current administrator of the National Aeronautics and Space Administration (NASA), sparred over why does the United States space agency exists and what should be its focus?

According to Cruz, NASA's prime focus should be space exploration, but the space agency has been losing its focus and spending too much of its budget on 'earth science'. Cruz said that every individual in the country would agree that the core function of the space agency is to explore space. That is the thing that would inspire a child and many other Americans, Cruz added.